BMO Capital Markets Boosts Toromont Industries (TSE:TIH) Price Target to C$138.00

Toromont Industries (TSE:TIH) had its price target raised by BMO Capital Markets from C$134.00 to C$138.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

Several other brokerages have also recently commented on TIH. Royal Bank of Canada lowered their target price on shares of Toromont Industries from C$142.00 to C$138.00 in a report on Wednesday, November 6th. Raymond James lowered their target price on shares of Toromont Industries from C$132.00 to C$122.00 in a report on Wednesday, November 6th. National Bankshares lowered their target price on shares of Toromont Industries from C$135.00 to C$132.00 in a report on Tuesday, November 5th. Scotiabank lowered their target price on shares of Toromont Industries from C$136.00 to C$132.00 in a report on Wednesday, November 6th. Finally, National Bank Financial raised shares of Toromont Industries from a “hold” rating to a “strong-buy” rating in a research note on Sunday, December 15th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Toromont Industries presently has an average rating of “Moderate Buy” and a consensus target price of C$134.88.

Toromont Industries Stock Up 3.4 %

Shares of TIH opened at C$121.29 on Wednesday. Toromont Industries has a 12 month low of C$109.83 and a 12 month high of C$135.53. The firm’s 50 day moving average is C$115.19 and its 200-day moving average is C$121.13. The stock has a market capitalization of C$9.93 billion, a PE ratio of 19.34, a P/E/G ratio of 3.72 and a beta of 0.68. The company has a current ratio of 2.64, a quick ratio of 1.38 and a debt-to-equity ratio of 24.08.

Toromont Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, January 6th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.92 dividend on an annualized basis and a yield of 1.58%. Toromont Industries’s dividend payout ratio (DPR) is 30.62%.

Insider Buying and Selling at Toromont Industries

In related news, Director Jeffrey Scott Chisholm bought 4,500 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price of C$111.45 per share, for a total transaction of C$501,525.00. Company insiders own 0.27% of the company’s stock.

About Toromont Industries

Toromont Industries Ltd. provides specialized capital equipment in Canada, the United States, and internationally. It operates in two segments, Equipment Group and CIMCO. The Equipment Group segment engages in the sale, rental, and service of mobile equipment for Caterpillar and other manufacturers; sale, rental, and service of engines used in various applications, including industrial, commercial, marine, on-highway trucks, and power generation; and sale of complementary and related products, parts, and services.